Markets seem to be consolidating for the last few sessions as participants are lightning their positions ahead of a crucial US Fed meeting next week.
Domestic benchmark indices BSE Sensex and NSE Nifty are expected to open in the green amid positive global cues, after a flat finish yesterday, as SGX Nifty is trading mildly higher. Nifty futures on the Singaporean exchange are up by 0.2%. Investors will also cheer India’s November CPI numbers that were announced yesterday, which fell to 5.8%, dropping within the RBI’s threshold. “Markets seem to be consolidating for the last few sessions as participants are lightning their positions ahead of a crucial US Fed meeting next week. US PPI data to be released later on Friday as well as US CPI data later today – would be keenly watched as they would influence the Fed’s interest rate decision,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. Landmarks Cars IPO opens for subscription today.
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Stocks in focus on 13 December, Tuesday
Yes Bank: The bank’s shares have rallied over 20% over the past two sessions as RBI grants Yes Bank approval to proceed with its capital raise from Carlyle Group and Verventa Holdings, an affiliate of funds managed by Advent International. In July, Yes Bank announced that the two global private equity players would each buy a 9.99% stake in the company worth a combined Rs 8,898 crore.
ICICI Bank: The bank raised Rs 5,000 crore via bonds that will help it fuel growth. The private sector lender allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures. The bonds can be redeemed after 7 years and have no special rights or privileges.
Tata Motors: The company’s board approved the partial divestment of investment in Tata Technologies via IPO. The vehicle manufacturer will make further announcements on developments related to the IPO.
Paytm: Paytm parent entity, One 97 Communications, is scheduled to hold a board meeting today to consider the proposal of a share buyback. “The management believes that given the Company’s prevailing liquidity/ financial position, a buyback may be beneficial for our shareholders,” the company’s regulatory disclosure said. The company’s loan disbursements had touched an annualised run rate of Rs 39,000 crore, as One 97 Communications witnessed a 150% jump in loan volume for the October-November period from a year earlier.
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KEC International: The company has received orders worth Rs 1,349 crore across various businesses. The transmission & distribution business has secured orders for T&D projects in India, SAARC, the Middle East and the Americas, while the business has bagged orders for building a data centre and for infra works in the Hydrocarbon segment in India.
Biocon: The company has appointed Peter Bains as an independent director. His appointment will commence from December 12, 2022, till the conclusion of the 48th Annual General Meeting proposed to be held in 2026, subject to the approval of the shareholders.
